PARIS, FRANCE: EUROAPI, a leading European producer of active pharmaceutical ingredients, has announced that it has signed an agreement to acquire Biano, a contract development and manufacturing organization (CDMO) with expertise in oligonucleotides.
The transaction is valued at approximately €10 million and is expected to close in the fourth quarter of 2023, subject to shareholder and regulatory approvals. Biano was founded in 2017 by Prof. Tobias Pöhlmann and Dr. Rolf Günther and is based in Gera, Germany.
It focuses on small-scale, early-stage, complex and customized projects in oligonucleotides, which are large molecules with applications in various therapeutic areas such as oncology, genetic disorders and infectious diseases.
The global oligonucleotide market is growing at a double-digit rate and is almost entirely outsourced to CDMOs.
The acquisition will strengthen EUROAPI’s CDMO market position in oligonucleotides by adding a reputable player with capacity to grow. EUROAPI plans to expand its own oligonucleotide capacity at its Frankfurt site by 2025, which will complement Biano’s early-phase expertise and enable larger-scale projects.
The acquisition will also create commercial synergies and scientific cooperation between the two companies and diversify EUROAPI’s commodity exposure. Biano will retain its corporate brand and become a EUROAPI company.
Karl Rotthier, Chief Executive Officer of EUROAPI, said that the acquisition is part of EUROAPI’s strategy to accelerate its CDMO roadmap through vertical integration and to strengthen its highly differentiated platforms, notably oligonucleotide activity.
He said that Biano has a compelling exploration thesis that the team is excited to test. He also said that the acquisition demonstrates EUROAPI’s focus on value creation through acquisition, exploration and discovery.
Prof. Tobias Pöhlmann, co-founder of Biano, said that he is thrilled to continue to expand Biano’s capabilities and to grow with its customers. He also said that Biano will benefit from EUROAPI’s sales and marketing teams to expand into new geographies.